STOCKS AND SHARES

New Zealand Herald, Volume LXXVII, Issue 23616, 28 March 1940, Page 7

STOCKS AND SHARES

AUSTRALIAN DEALINGS INDUSTRIALS TEND TO EASE (Received March 27, 9 p.m.) SYDNEY. March 27 Fair business was done on the Stock Exchange to-day. Leading industrials tended to ease. Sales included: — £ s d National Bk. A'asiii (£5 pd.) o i; Australian Ons A . . . . <> 12 (> 1 loward Smith . . . , 1 2 U Tooheys . . . . I 0 A.C.I. .. 11.-,:! Anthony Mordern . . o i;t I Broken Mill Proprietary . . •_> i: • Electrolytic Zinc i.prcf.) .. 2 Ir, c Ditto lord.) . . . . •_> i i j> Kairyinead Sugar .. .. | i:s :t G. .1. Coles ~ .. 3 ii ;j Henry Junes . . . . . •_> lr, <; Mount Lyell ' .. .. tit a Aralnira .. .. .. 1 12 0 Oil Search . . . . o <; l Commonwealth Bonds.— 1 per cent, liltl. £1(12 17s ud, mm, cinr> ins. MELBOURNE EXCHANGE .1' s il f Carlton Breweries .. .. :s .*> i; Felt and Textiles . . 1 Is o Mount Morgan . * . . 0 10 r> Emperor . . 0 I,') 2 SHARES AND DEBENTURES QUOTATIONS IN LONDON LONDON, March 2f! Quotations for bank shares and other corporation debentures and stocks conpare with those ruling on March 12 as under: March 2i> March 12 f s ll L' s d Rank of Australasia 7 :! !) 7 U K.. S. and A. :l s ii :t I o Union Bank . ."> 1"> o •" 17 ii New South Wales . 21 1 •"> o 22 no National Bk. N.Z. 1 <! !> ' 1 7 i> Bank or N.Z. . . 1 7 o 1 7 :t British Tobacco . . 1 Hi HVi 1 Hi Hi'. Goldsbrnuah-Mort . 1 2 '! I 2 ii Dalgety .. ■"> 17 f, .", 1 •"> o P. -mil O. idef.) 1 I (i I •'! Loan Merc, ideh.) 7« O o 7!) o o Loan & Merc, lord.) 27 Hi O 27 o O Quotations at both dates are nominal with the exception of I*. and (). deferred stock. , BRITISH FINANCE INCREASE IN REVENUE INCOME TAX YIELD British Wireless LONDON, March 2(i Willi n week still to go before the end of the financial year, the British Exchequer returns show the total ordinary revenue at ,L" 1.020.41?7..').U. which already exceeds the . Budget estimate by over 000,000. Inland revenue, as a whole, is only L 10,000,000 short of the estimate, while 'the yie.ld from custpins and excise already exceeds the estimate by nearly C2L000.000. Income tax has yielded X!."J83,61)9,000. compared with £M27.7:W.000 a year ago and against the estimate of £J?90,000,000. DOMINION LOANS EARLY CONVERSION FAVOURED LONDON, March 2fi The Daily Telegraph's financial correspondent, referring to Dominion loans, of which nearly L-50,000,000 is optionally redeemable during the next ]0 months, says that as the next few months should be free from Government borrowing, possibly the authorities 1 might be more disposed to favour early conversion or new loan operations than later, when fresh Government loans come along. — - % STERLING WEAKER STILL PERSISTENT SELLING BY BANKS NEW YORK. March 2<i Sterling is quoted to-day at 3.5.' H dollars to the pound, the lowest quofc of the dav being •'>■s2. , This is due to fears of further restrictions. Several banks are persistent sellers, and the turnover is substantial. Accumulated Easter selling orders aided the weakness of sterling, the present level being the lowest since April 4, 19.13. .when the United States placed an embargo on gold exports. Quotations on the previous day reached a low point of dollais to the pound, the lowest since 1933. SPIRITS AND TOBACCO BRITISH INCREASE IN DUTY LONDON, March 2fi Withdrawals of spirits and tobacco from bond are restricted to 02} per cent of January figures until after the Budget on April 23. Withdrawals of spirits in January were very low, consequently a shortage is expected. The restrictions are believed to foreshadow another increase in duties.

SIIAREMARKET INDICES New York Dow .Tones' ;iverages (1926 equals TOO) and turnover on the New York Stock Exchange are as follows: — 20 Kail- .'lO Shores "roads Industrials sold March IS .. ?«.«n "'I'),ooo m If, .. .".0.1.'5 11'!.!) I . 010.000 x:[Zl . no.io nn.T.t so,(loo S r S m .. an. in moo.ooo <: ; . mo.oi no.-.'.-. .'>oo.ooo Manh 'Jii -»•»« 1 o-jo.nno Richest in 19:59.—Railroads, 35.00 (September 27); industrials, 151 .22 (September 12). Lowest in 1939: Railroads,'24.ls (April IS); industrials, 121.4 (April 8). London Stock indices compiled by the financial limes. London, are as tollows (October 15, 1926. equals 100): Govt. Homo Infills- Gold securities rails trials ir.ines March is . HKI ~ Vnrch 10 losii VM) 1ol'."> March 'JO . . 10s.fI -Ml 5»..*< I !>•_». s March 20 . . lOft.fj -VI .0 !»>.() 10.'t.l FOREIGN EXCHANGE RATES LONDON, March 'JO Foreign exchange rates are:—Xow York (dollar), 1.001; Montreal (dollar). 4.45; Paris (franc), 1702; Amsterdam (< r r.), 7.555; Rrussels (belga), 2.1.625:'~Mi1nn (lire), 72.50; Hongkong (dollar), 142c1; Shanghai (dollar), 4Jd; Stockboim (l< r.), 10.00; Copenhagen (kr.). 1X.68; Ratavia (II.), 7.11 to 7.54; Oslo (kr.). 17.70; Oneva (IV.), 17.00; Bombav (rupee), lRd; Kobe (yen), 15 19-61; Ruenos Aires (pes.), 17.075 MINING SHARES IN LONDON LONDON, March 'JO Mount Lvcll shares are quoted at 23s 4id. TIN MARKET EASIER LONDON, March 20 Tin quotations have eased C 3 a ton on I'iiv-lioliday levels. Quotations are: Spot: Ruyers. £2l/ ->s a ton; sellers. i'2l7 10s. Forward: Ruyers, 1:215 10s; sellers, £216. Other metals arc unchanged.